Property Description

***High yielding freehold residential investment opportunity*** Occupying a strong letting location close to the Royal Derby Hospital, is an imposing three storey, high yielding property, situated close to the Derby University Campus, the city centre, and the A38. Currently four of the five units are let on assured shorthold tenancy agreements producing a combined gross rent of £26,940 per annum. If unit 1 were let on its asking price rent of £5,700 per annum, fully let the property would be producing a gross combined rental income of £32,640 per annum. This represents an impressive 14.5% return based on the guide price. Constructed of traditional brick set beneath a pitched tiled roof, the mostly gas centrally heated and uPVC double glazed living accommodation in brief comprises of communal entrance hall, flat 1 studio, flat 2 - the auctioneer has not inspected. To the first floor floor landing, flat 3 studio, flat 5 one bedroomed self contained flat and to the top floor there is a generous sized one bedroomed penthouse apartment. The property is set back from the road with a fore garden. To the rear there is an open yard with access from off Rowditch Place. Pedestrian access from the side leads to the front door of the property.

GROUND FLOOR

Comprising -

Communal Entrance Hall

19ft 3 x 5ft 3

FLAT ONE

Please Note - This flat is Vacant. Having accommodation consisting of -

Lounge/Kitchen/Bedroom

17ft 6 into bay x 12ft7 into chimney recess

Shower Room

8ft x 2ft 5

FLAT TWO

The auctioneers have been unable to inspect. The flat is let on an Assured Shorthold Tenancy producing £450 per calendar month (£5,400 per annum).

First Floor Landing

Giving access to -

FLAT THREE

The flat is let on an Assured Shorthold Tenancy at £550 per calendar month (£6,600 per annum). The flat comprises -

Lounge/Bedroom

17ft 2 max x 14ft

Kitchen

11ft 6 x 7ft 2

Shower Room

7ft 3 x 3ft 4max

Separate WC

7ft 1 x 2ft 7

FLAT FIVE

The flat is let on an Assured Shorthold Agreement at £595 per calendar month (£7,140 per annum). The accommodation consists of -

Entrance Hall

7ft 6 x 2ft 9

Lounge

11ft 3 into chimney recess x 15ft 4

Kitchen

11ft 2 x 9ft 5

Bedroom

13ft into chimney recess x 14ft 2

Shower Room

8ft 7 x 2ft 5

SECOND FLOOR

Giving access to -

PENTHOUSE APARTMENT

The apartment is let on an Assured Shorthold Agreement at £650 per calendar month (£7,800 per annum). The accommodation consists of -

Kitchen

20ft restricted height x 5ft 4

Shower Room

5ft 3 x 2ft 6

Separate wc

6ft 5 x 2ft 8

Bedroom

13ft 2 into chimney recess x 10ft 3

Lounge

15ft 5 x 14ft 2

Flood Risk

Rivers and Seas - Very low. Surface Water - Very low.

Building Construction

Solid brick, as built, no insulation (assumed) - Information taken from EPC.

Broadband (estimated speeds)

Standard 9 mbps, Superfast 219 mbps and Ultrafast 1000 mbps show as available in this location

Mobile Signal

EE, O2, Vodaphone and Three show as available in this location.

Satellite and Cable TV Availability

Sky and BT show as available in this location.

Tenure

Freehold

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